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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: Eric P who wrote (581)	6/27/1998 9:15:00 PM
From: Colin Cody	Read Replies (1) \| Respond to of 1729

Eric, what's the deal with Castle (I have an account number but never funded the account with the $$$). . Price per trade? Is there a limit to number of shares per trade? If you place an order, say to BUY 5,000 KTEL, and you get filled in three partials - do they aggregate for ONE commission? or hit you with three commissions? . Do they do OTC-BB? (last time I asked them the answer was "no" . Same commission for NYSE, ASE, NASDAQ NMS, NASDAQ SmCap and OTC-BB? Same number of share limits? . Same commission for Limit vrs Market or other specials FOK, GTC etc?. . jawd mentioned his MB Trading provides excellent real time services for $300 a month, with a credit for high monthly usage. What's Castle's deal/services now? When I signed up Kill Key was with FREE L2 but I heard that changed in the past year??? . To fund the account? Is it $50K to start? . Colin

To: Eric P who wrote (581)	6/27/1998 9:27:00 PM
From: CountofMoneyCristo	Read Replies (2) \| Respond to of 1729

First of all, I just started and finished reading through all the posts on this thread this afternoon. A very interesting thread, to say the least. I am especially impressed by Dave Gore's discussion of Datek's practices with their Island order routing system. I would not hesitate one second to contact the SEC and your senators and congressmen in an effort to begin eliminating the rampant corruption that infects the market. Whoever wrote the law allowing Canadian brokerages to short non-marginable stocks in American markets, while making it illegal for U.S. firms to do so, must be out of their mind. It is just simply incredible. Can someone please explain to me why and on whose authority this law was enacted? It seems completely absurd to me, unless it was written by those taking advantage of it. We as online traders are fast becoming one of the most powerful forces in the markets; that also entitles us to commensurate influence over how those markets function. It is about time that the practice of market makers hiding the true size of their orders be eliminated. It is truly outrageous when you think about it. They have enough advantages as it is. Well, done, Dave. Keep after 'em, and please keep us posted! I must say that I read Eric P.'s posts about his automated trading system - and various responses - with increasing amusement. I am sorry, but "the most powerful trading platform available to the public today"? That is quite a bold statement. I have been day-trading quite successfully for years and find the notion of allowing a computer to place trades based on certain rigid criteria to be a ludicrous proposition. It may work some of the time, but it won't work when markets turn "irrational" and your indicators are wrong. Have you programmed market psychology into your platform? I doubt that you have, or that you could if you tried. There is no way to program into a computer the kind of experience a successful trader builds up over years and years. A trader is successful because he builds up a sixth sense that can detect a change in market sentiment a mile away, and then react on that knowledge instantly, which generally means overhauling one's entire trading strategy. Have you managed to program that? Finally, even assuming the hypothetical value of your platform, it would be impossible to publicly market because once many were using the same system it would naturally endure a corresponding decline in effectiveness. I don't mean to diminish your efforts - I find them laudable and do hope you enjoy a great deal of success in your endeavor; I am simply trying to bring some sense of reality into the discussion. As an earlier poster stated, you are searching for the Holy Grail, my friend, and it isn't out there. (A Baccarat tumbler, perhaps, but a Grail - forget it!) If we took personal decisions out of the markets it would be a boring and ultimately unprofitable business.